- Increasing demand of electronics industries is likely to drive the graphene market growth.
- High costs and high research and development investments hamper growth of the graphene market.
- North America contributes a major market share due to its growing automobile and electronics industries.
Graphene is a two-dimensional crystalize form of carbon atom perfectly distributed in a hexagonal honeycomb formation of 0.3 nanometers thick with just 0.1 nanometers between each atom. It is million times thinner than human hair or a sheet of paper, and the lightest material known (with one square meter coming in at around 0.77 milligrams). It is 200 times stronger than steel, and incredibly flexible. It is electrically and thermally conductive but also absorbs 2% of light and hence perfectly transparent. Such attributes incorporates into wide range of applications in industries such as automotive, aerospace, energy, biomedical and electronics.
Graphene was artificially produced through mechanical exfoliation process resulting into mono layer of graphite, which is only 1 atom thick. Its thermal and electrical conductivity, mechanical strength and optical purity could be used in a wide range of materials such as coatings and composites, flexible screens, inks, high-capacity batteries, sensors and ultra-fast transistors and in the field of semiconductors for computer chips as graphene chips are much faster than existing ones made from silicon.
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Prevalent Scenario in Graphene Market
According to the report published by Badische Anilin- und Soda-Fabrik (BASF) published a report on the prospect of graphene, estimated a market worth $1.5 billion in 2015 and $7.5 billion in 2025. Since its breakthrough, the number of research publications on the product has increased from over 125 in 2005 to more than 9000 in 2013. This will augment the graphene market growth from 2017 to 2025 as it will enhance product applicability in various industries. Government initiatives such as the European Commission’s invested $1.3 billion in the products research & development.
Graphene has various end user industries such as aerospace, automotive, energy, coatings, pharmaceuticals, electronics, 3-D printing, chemical, and others. Increasing in demand of electronics industries is likely to drive the Graphene Market growth. Graphene is a cost-effective substitute to conventional silicon based devices due to its attributes. It also possesses energy harvesting properties. Due to these key attributes, graphene has attracted major R&D investments of over $1.3 billion committed by the European Commission under graphene flagship projects since 2015. Such government initiatives play a vital role in development and innovation of graphene for wide range of applications. The energy storage and conversion applications are the fastest growing application of graphene market due to increasing use of graphene owing to its high energy density and fast charging cycle
However, there are many challenges with scaling up graphene to industrial quantities including controlling defects, the need for complex transfer techniques required to handle the two-dimensional material and manufacturing large quantities of different varieties. It has lower stability because of the lack of band gap as compared to silicon. High costs to overcome these restraints and high research and development investments hamper growth of the graphene market. North America contributes a major market share due to its growing automobile and electronics industries as well as energy sector. China has the largest graphite reserve in the world and hence, it is the largest global producer of graphene. In spite of the niche nature, the market has high potential and large number of manufacturers are focusing on offering innovative products to enhance their market share.
Being transparent and good conductor, graphene could replace the electrodes in the indium used in touchscreens. Graphene-based coating for desalination membranes is developed that is more robust and scalable than current Nano filtration membrane technologies. Graphene rejects almost 100 percent of salt content, makes it a perfect material for desalination membranes. In the near future, graphene could potentially be used for electrical components and other items such as composites, batteries, sensors, ion-exchange membranes and other products. The other project involving graphene will be the development of low-cost inkjet printers and for the military applications. Electronics and energy storage could also be revolutionized by graphene.
The global graphene market is highly fragmented due to the participation of many Major players involved in the market include CVD Equipment Corporation (U.S.), Graphene NanoChem Plc. (Malaysia), Graphenea SA (Spain), Grafoid Inc. (Canada), Haydale Graphene Industries Plc (U.K.), Group NanoXplore Inc. (Canada), Thomas Swan & Co., Ltd. (U.K.), Vorbeck Materials (U.S.), 2D Carbon Tech Inc. Ltd. (China), and XG Sciences Inc. (U.S.).